ON00002341 - Notice of Intent to Extend Contract with Resolver

In 2019 the Real Estate Council of British Columbia (RECBC) completed a competition to procure a compliance and investigation management platform. Resolver was the preferred platform due to its value proposition and cost effectiveness and a five (5) year contract with one (1) one (1) year opportunity to renew was executed on July 18, 2019. This contract is due to expire in July 2025.

On November 12, 2019, the Minister of Finance announced that the RECBC and the Office of the Superintendent of Real Estate (OSRE) would integrate with BC Financial Services Authority (BCFSA) to create a single regulator of the financial services sector to streamline, centralize expertise and responsibilities and facilitate cross-segment information sharing. within a single regulatory body.

Following the amalgamation of RECBC, OSRE and BCFSA, the Compliance and Enforcement (C&E) Department inherited a significant workload related to complaint files, leading to extended resolution timeframes. Resolver played a critical role in helping clear the backlog of this workflow and to achieve efficiencies.

BCFSA is initiating an Enterprise Case Management (“ECM”) project during fiscal year 2026. Through the project, BCFSA will be undertaking discovery to understand current and future state requirements for the Financial Institutions Market Conduct (“FIMC”) branch within the Supervision and Deposit Insurance department to ensure enterprise level scalability with the goal of supporting case management needs at BCFSA with a common, standardized solution for the long term. Based on the current outlook, BCFSA will need 3 to 5 years to explore and implement an enterprise solution that will satisfy the various case management requirements of the entire organization.

Prior to the completion of the ECM project, two new segments will be needing a compliance and investigation platform. To ensure business continuity and successful implementation of the new future state solution, it is important that all data is contained within a single source. BCFSA therefore wishes to continue using Resolver as its compliance and investigation management platform during the interim period. 

Notice is hereby given by BC Financial Services Authority (BCFSA), of its intent to extend its contract with Resolver by an additional three (3) years with two (2) one (1) year options to extend at the sole discretion of BCFSA in order to ensure the successful completion and future integration and an enterprise level, standardized solution for the long term elated to the CRS Project. 

Vendors wishing to object to this decision should contact Peter Mountstevens, Manager, Procurement, BC Financial Services Authority by email: Peter.Mountstevens@bcfsa.ca on or before 2:00pm local time (PST) on March 13, 2025, detailing specific reasons for their objections, proof of their capability and proven record for supplying comparable services. A Vendor's proof of ability to offer services resulting in the same or better solutions in the same time frame at lower cost will be the key criterion with regard to the consideration of Vendor objections.